S&P ups Sun Hung Kai

Standard & Poor's said it raised Sun Hung Kai Properties Ltd.'s long-term corporate credit rating to A+ from A and the company's financing vehicles Sun Hung Kai Properties (Capital Market) Ltd.'s and Sun Hung Kai Properties (Financial Services) Ltd.'s issue ratings to A+ from A.

The outlook is stable.

The ratings reflect the steady growth in the company's high-quality investment property portfolio, both in Hong Kong and China; conservative and consistent financial management policies; expanding recurring income base; modest financial risk profile and strong liquidity, S&P said.

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